Topic
The illegal practice of trading securities or other financial instruments using material, non-public information, typically prosecuted as securities fraud.
Polymarket, valued at about $21 billion, hired ex-Goldman partner Lisa Mantil to bring big traders onto its US exchange. She starts selling while federal investigators, House members and New York officials still dispute how its contracts should be policed.
Reality
JPMorgan ended Polymarket's primary banking relationship over regulatory risk in October, around the time ICE put an initial $1 billion in at a roughly $8 billion valuation.
Perspective Coverage
3 publishersReality
Fifty-three former federal prosecutors told a federal court that firms paying up to $100,000 a month for early Truth Social posts may face criminal liability. No one has been charged, but each subscriber's $1.2 million-a-year seat is now a compliance question.
Reality
The Division of Market Oversight's September 22 advisory leaves mention markets legal, and it tells exchanges that a contract settling on one named person's conduct starts from a heightened manipulation risk they must answer contract by contract.
Reality
Polymarket has approached the European Commission, ESMA and the FCA's chief executive to be regulated under MiFID, the Financial Times reports. Spain blocked it in May and France followed in July.
Reality
Bloomberg counts about 80 trades a market day since Trump returned to office, more than every member of Congress combined. The criminal conflict statute that would bind a Treasury secretary exempts the president, so the periodic filings are the whole record.
Reality
The exchange's penalty came in at roughly double the CFTC's settlement over the same trades, which makes this the first case where a prediction-market venue priced its own integrity failure higher than its regulator did.
Perspective Coverage
7 publishersReality
The European Securities and Markets Authority put the phrase in a report published Thursday. Among the venues it describes is Polymarket, valued at $21 billion after Donald Trump Jr.'s 1789 Capital bought in when it was worth under a billion.
Reality
The market maker told both agencies on September 9 that contracts settling on a company's revenue or passenger counts are security-based swaps, and that the venues listing them picked their own regulator.
Reality
Actions are down about 60% under Chair Paul Atkins, but the cases still getting filed are the ones a bank's own internal inquiry had already built.
Reality
A new Anti-Corruption Data Collective report classifies 556 Polymarket wallets as likely insider traders, moving the issue from individual prosecutions to a measurable population.
Reality